Tag Archives: Processing

CredAbility and ClearPoint Credit Counseling Solutions announced Tuesday that they have agreed to merge effective December 31, 2013.

Though recent reports seem to indicate a hitch in the ongoing housing recovery, Fitch Ratings maintains its expectations of a healthy increase in housing metrics through this year and the next. "As we have noted previously, recovery in the housing market will likely occur in fits and starts and housing absolute numbers are still low relative to past cycles," the company said in its latest analysis. "Expansion should not be expected as a total slope upward, as there are a number of variables that intervene."

MortgageDocs, a national mobile notary signing service headquartered in California, announced the launch of myMortgageDocs, the company's new proprietary signing management platform for notaries, lenders, title, and escrow companies.

STRATMOR Group, a Georgia-based consulting firm specializing in all aspects of mortgage lending, promoted Lisa Springer to COO.

Most economists agreed that the broader effects of the shutdown should be minimal, assuming that the shutdown is short-lived.

In Connecticut, Norcom Mortgage welcomed Mary Downing to the team as its newest wholesale account executive.

According to CoreLogic's monthly Home Price Index (HPI) report, house prices nationwide (including distressed sales) increased 12.4 percent on a yearly basis in August. On a monthly basis, prices were up only 0.9 percent. "After a strong run, the rate of home price appreciation slowed in August. In addition to normal seasonality, the recent sharp rise in mortgage rates off their historic lows was a clear driver behind the slowdown," said Anand Nallathambi, CoreLogic's president and CEO.

Ally CFO James G. Mackey will soon be departing to take an executive position at Freddie Mac, the mortgage giant announced.

HUD released on Monday a proposal to define the type of qualified mortgage (QM) that would be insured, guaranteed, or administered by the agency. The proposed definition is aligned with the Ability-to-Repay rule laid out in the Truth in Lending Act (TILA) and includes provisions that prohibit loan terms in excess of 30 years and that limit upfront points and fees to no more than 3 percent--making it consistent with the Consumer Financial Protection Bureau's existing QM rule.

CoreLogic has announced the appointment of Olumide Soroye as managing director of Information Solutions.